This time, proponents of restoring the deduction to 100% tried via an amendment, but the Rules Committee adjourned without ...

Public Law No. 119-21, 139 Stat. 72 (2025) — known as the One Big Beautiful Bill Act — introduces a change to the treatment of gambling losses under the Internal Revenue Code. Gamblers could deduct up ...

The house always wins in gambling, and soon it could feel like Uncle Sam does too. That’s because gamblers face what amounts to a tax hike beginning in 2026: They’ll no longer be able to deduct the ...

The ink is barely dry on President Donald Trump’s sweeping new tax law. But a debate is already underway over a gambling provision that could reshape how millions of U.S. gamblers are taxed on their ...

As we step into 2026, gamblers across the United States must urgently adjust to the changes to the gambling losses tax brought about by the One Big Beautiful Bill Act (OBBBA). Signed into law in 2025, ...

Wednesday’s federal government shutdown has become Congress’ No. 1 priority, dealing another blow to legislation that would reinstate a 100% gambling loss tax deduction. Key Takeaways Federal shutdown ...

An addition to the One Big Beautiful Bill Act is poised to impact big gamblers' tax bills as it reduces the amount of gambling losses they can claim from 100% to 90%. Dubbed a "phantom tax," this ...